Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
13 New U.S. Property/Casualty Insurer Impairments in 2019
Nov 16 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Insurers Face Workforce, Risk, Policy Challenges as Pandemic Continues
Nov 16 2020 // Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face challenges related to virus-related insurance losses and premium volume...
25K Virus-Linked Claims Filed with Texas Workers’ Comp Carriers Through June 30
Nov 13 2020 // As of Sept. 27, workers’ compensation insurance carriers in Texas had reported more than 25,000 COVID-19 claims and 103 fatalities to the state’s regulators. The numbers cover virus-related claims reported to...
Home, Pet Insurer Lemonade Bypasses Auto in Favor of Life… for Now
Nov 13 2020 // Lemonade plans to start selling term life insurance in the next 90 days, adding to its current rental, homeowners and pet insurance offerings, the company said in an earnings report this week. During an investor conference...
Goldman Eyes More Business From Europe’s Insurers With Barclays Hire
Nov 13 2020 // Goldman Sachs has poached Barclays’ insurance banker Marguerite Bion to win more business from Europe’s biggest insurers as industry consolidation heats up amid anemic profitability and tightening...
North Carolina Insurers Seek 24.5% Rate Hike for Homeowners
Nov 13 2020 // The North Carolina Rate Bureau has requested an average statewide rate increase of 24.5% on homeowners insurance rates in the state, according to a statement from the North Carolina Department of Insurance. The NCRB is not...
Homeowners Insurer Openly Enters Ohio
Nov 13 2020 // Boston-based Openly is now selling homeowners insurance in Ohio. Ohio homeowners and independent agents can now buy Openly’s premium insurance, obtaining quotes in 15 seconds, according to the company’s media...
Louisiana Court Schedules Trial on First Coronavirus Business Interruption Lawsuit
Nov 12 2020 // A trial will begin Monday in what is thought to be the first lawsuit to be filed against an insurer for denying coverage for business-interruption losses caused by COVID-19 shutdown orders. Judge Paulette R. Irons ruled...
Texas Seeks Comments on Windstorm Insurer Rules, Classification for Oil, Gas
Nov 12 2020 // The Texas Department of Insurance (TDI) seeks comments on an informal draft to improve the structure of Texas Windstorm Insurance Association (TWIA) rules. These updates do not include revisions to the rule text. Visit the...
U.S. Sanctions to Target Insurers In Fight Against Russia-to-Germany Nord Stream 2
Nov 12 2020 // The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that’s been halted almost...
How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment
Nov 12 2020 // While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may...
Florida Regulator Calls for Further Workers’ Comp Rate Decrease
Nov 10 2020 // Florida’s insurance regulator has called for a further decrease to proposed workers’ compensation insurance rates in response to a filing by the National Council on Compensation Insurance (NCCI). In an order...
Philippine Insurers Under Pressure to Meet New Capital Requirement Amid Pandemic
Nov 10 2020 // AM Best believes local companies in the Philippine insurance industry will still face significant pressure on underwriting growth and profitability amid the ongoing COVID-19 pandemic with the recent rejection of a proposal...
P/C Insurers Face Workforce, Risk, Policy Challenges as Pandemic Continues
Nov 9 2020 // Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face challenges related to virus-related insurance losses and premium volume...
Insurors of Tennessee Appoints Representative Ron Travis as CEO
Nov 6 2020 // Insurors of Tennessee has named Representative Ron Travis as the new CEO for the organization, effective Nov. 16, 2020. Ron Travis Travis (R-Dayton) is a state representative for District 31 (Bledsoe, Rhea, Sequatchie and...
California Issues Moratorium on Insurers Non-Renewing or Cancelling Following Wildfires
Nov 5 2020 // California Insurance Commissioner Ricardo Lara on Thursday announced a mandatory one-year moratorium on insurance companies non-renewing or cancelling residential property insurance policies, a move he says is aimed at...
Update: UK Insurer RSA Receives $9.4B Takeover Offer From Intact Financial, Tryg
Nov 5 2020 // RSA is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that values the British firm at about 7.2 billion pounds ($9.46 billion). RSA said its board...
U.S. P/C Insurer Impairments Rise Slightly in 2019: AM Best
Nov 5 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
Insurer RSA Says Pandemic Exclusions Will Limit Impact of England’s 2nd Lockdown
Nov 5 2020 // England’s second national lockdown is unlikely to have much impact on insurer RSA as many policies now have pandemic-related exclusions, its CEO said on Thursday as it reported a rise in underwriting profit in the...
Threat of U.S. Insurance Regulatory Crackdown Fades Without Democratic ‘Blue Wave’
Nov 5 2020 // Insurers appear to have dodged a revival of strict regulations and policy upheavals after an anticipated Democratic “Blue Wave,” which would have allowed progressives to push for broad reforms, failed to...
